The rules aim to ensure that websites and apps have equal access to the global internet regardless of their size or ability to pay the companies that own the web’s infrastructure, such as network cables and cell towers.
Investors were turned off by the tech CEO's earnings call discussion of areas like artificial intelligence and mixed reality that are not currently profitable.
TikTok creators and viewers are concerned about the impact a ban could have on small businesses and feel like the federal government isn’t listening to them.
The stock selloff accelerated early in the earnings call after CEO Mark Zuckerberg discussed investment in areas that currently don't make money, including glasses and mixed reality.
The legislation gives TikTok's China-based parent company nine to 12 months to sell or be banned in the U.S., ensuring the app will remain active through the fall campaign.